Colgate-Palmolive (NYSE:CL) Shares Sold by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 5.5% during the third quarter, Holdings Channel reports. The institutional investor owned 6,064 shares of the company’s stock after selling 352 shares during the period. Tyche Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Aviance Capital Partners LLC increased its holdings in Colgate-Palmolive by 43.1% during the 1st quarter. Aviance Capital Partners LLC now owns 3,650 shares of the company’s stock valued at $329,000 after acquiring an additional 1,100 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Colgate-Palmolive by 49.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,164 shares of the company’s stock valued at $105,000 after acquiring an additional 386 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Colgate-Palmolive by 461.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,036,215 shares of the company’s stock valued at $93,311,000 after buying an additional 851,671 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in Colgate-Palmolive by 1.2% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 36,381 shares of the company’s stock worth $3,276,000 after acquiring an additional 431 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Colgate-Palmolive in the first quarter valued at $1,467,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL traded down $0.30 during midday trading on Tuesday, reaching $95.44. The stock had a trading volume of 1,350,972 shares, compared to its average volume of 4,336,732. The firm has a market cap of $78.30 billion, a PE ratio of 30.31, a P/E/G ratio of 3.54 and a beta of 0.40. The firm has a 50 day simple moving average of $103.03 and a 200-day simple moving average of $98.13. Colgate-Palmolive has a one year low of $72.36 and a one year high of $109.30. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CL shares. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Bank of America raised their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, TD Cowen dropped their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.